Microstrategy’s Bitcoin Bet Backfires, Costing of $330 Million in Paper Losses.
MicroStrategy's large bitcoin investment has made a loss after bitcoin's price fell below the software company's average buying price.
MicroStrategy and its subsidiaries presently own 129,218 bitcoins, which they purchased for an average of $30,700 each.
The current bitcoin price is around $28,200, resulting in a $330 million loss on paper — despite the fact that MicroStrategy hasn't sold any bitcoin
MicroStrategy's stock price has plummeted in recent days as a result of the larger market turmoil.